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Peak Oil News Friday August 18th 2006
From The Wilderness
"It was about a week before I left the United States forever that I watched Robert F. Kennedy, Jr. tell Charlie Rose something all of us already know in our hearts. Today, he said, the United States is hated around the world far worse than it was at the height of the Vietnam War. I remember the Vietnam War ... I will never forget it. I opposed that war, and I still remember riots on the UCLA campus in May,1970 when four students were shot dead by National Guard troops at Kent State University in Ohio. I was a college student then, and I was 2S-deferred for the draft."
relocalization, permaculture, earth ethics, and bioregionalism
Ohio Peak Oil Action is, in its own words, "a visionary organization working with inspired individuals, communities, and other organizations to help prepare for peak oil and the other challenges of the 21st century by promoting community sustainability, bioregionalism and relocalization." Ohio Peak Oil Action was featured as the lead story in the August 15, 2006, edition of the Energy Bulletin, a leading peak oil publication, in an article entitled "Peak Oil and Relocalization in Ohio," by Ryan Hottle, who, along with Theresa Bratton, is a founder and co-director of Ohio Peak Oil Action! (OPOA!).
Peak oil - get used to it
"To paraphrase the late Sen. Everett Dirksen, "400,000 barrels here, 400,000 barrels there. Pretty soon, you're talking about a lot of oil." I am referring to the recent announcement by BP that it is temporarily shutting down its Alaskan oil operations in Prudhoe Bay. Corrosion in the 30-year old transit lines makes it unsafe to continue operations. BP is removing 400,000 barrels per day of oil from the world's markets."
Peak Oil Passnotes: Supply 'Cushionitis'
PARIS (ResourceInvestor.com) -- You have seen what Resource Investor was mooting about the oil market last week, basically come true. Oil has actually fallen a little faster than we expected - to around $71 - but it still has an important couple of barriers to break before it goes really wild to the downside. So let us take a little look at some recent history and see if we can figure out why. On April 21st the Nymex WTI price reached $75.17 on the back of worries over Iran and general supply tightness.
The Price of Oil is Falling and the Oil Patch Drums Are Beating
Remarkably, for those inured to peak oil and all the oil patch blather of the last few years, there has been a dramatic retrenchment of oil prices these past few weeks. From a high of $78.40 a barrel on July 14 to $77.30 as recently as August 8, the price has dropped by $8.20/bbl from its high to close at $70.20/bbl on the New York Mercantile Exchange today. That is a dramatic drop.
Now America goes cap in hand, as Britain once did
The financial and trade imbalances that are now severely stretching the US are changing the balance of power in China's favour. Indeed, what prompted George Bush's recent Asian trip was no new political initiative but, crudely, a search for money. With US net foreign debt of over $4,000bn (£2,110bn) now approaching 40pc of GDP, and a current account deficit of more than 6pc, the US is reduced to seeking financial support from China, just as Britain was obliged to go cap in hand to the US after the Second World War.